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Newman Stores accepts both its own and national credit cards. During the year the following selected summary transactions occurred. Jan. 15 Made Newman credit card
Newman Stores accepts both its own and national credit cards. During the year the following selected summary transactions occurred. Jan. 15 Made Newman credit card sales totaling $27,000. (There were no balances prior to January 15.) 20 Made Visa credit card sales (service charge fee 2%) totaling $7,500 Feb. 10 Collected $12,000 on Newman credit card sales. 15 Added finance charges of 1% to Newman credit card balance. Journalize the transactions for Newman Instructions(a) Stores
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